Greece fiscal future is not good. This bodes not too well for the future of Europe’s economy. Unmitigated borrowings by Greece has left if mired in sovereign debt that pushed the Greek economy into a downward spin.

The downfall of Greece will cause a weakening of the Euro. In the event that the Euro suffers devaluation, all other economies around the world will feel the punch and a global recession is bound to occur between this year up to the next. With more serious devastating calamities hitting the planet, the problems will compound for all of us.

The U.S. which is already feeling the crunch, will not be able to escape the slump and downturn.